T-Mobile to sell unsubsidized 16GB Nexus 4 for $499 in US

T-Mobile has announced that they would be selling the 16GB Nexus 4 for $499 in the US, unsubsidized. That's rather high, as the phone costs only $349 on Google Play.
The other option they offer you is the ability to purchase the phone for $199 but with a two-year contract, so any money saved...